WealthPlan Investment Management LLC bought a new position in Barings BDC, Inc. (NYSE:BBDC – Get Rating) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 15,431 shares of the company’s stock, valued at approximately $133,000.
Other large investors have also made changes to their positions in the company. Captrust Financial Advisors increased its holdings in Barings BDC by 6.2% in the 3rd quarter. Captrust Financial Advisors now owns 78,191 shares of the company’s stock valued at $647,000 after purchasing an additional 4,577 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in Barings BDC by 13.5% in the 3rd quarter. CreativeOne Wealth LLC now owns 34,136 shares of the company’s stock valued at $282,000 after purchasing an additional 4,060 shares in the last quarter. BNP Paribas Arbitrage SNC acquired a new stake in Barings BDC in the 3rd quarter valued at $60,000. Neuberger Berman Group LLC increased its holdings in Barings BDC by 3.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 377,164 shares of the company’s stock valued at $3,119,000 after purchasing an additional 12,518 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its holdings in Barings BDC by 9.2% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 27,985 shares of the company’s stock valued at $231,000 after purchasing an additional 2,363 shares in the last quarter. 49.23% of the stock is owned by hedge funds and other institutional investors.
Barings BDC Stock Down 2.9 %
Shares of Barings BDC stock opened at $7.47 on Friday. The business has a 50-day moving average of $8.54 and a 200-day moving average of $8.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.24 and a quick ratio of 0.24. The company has a market capitalization of $806.13 million, a PE ratio of 74.70 and a beta of 0.70. Barings BDC, Inc. has a 1-year low of $7.45 and a 1-year high of $10.99.
Barings BDC Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 8th were given a dividend of $0.25 per share. This is a boost from Barings BDC’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, March 7th. This represents a $1.00 annualized dividend and a dividend yield of 13.39%. Barings BDC’s dividend payout ratio (DPR) is presently 1,000.00%.
Insider Transactions at Barings BDC
In related news, Director Thomas Okel purchased 10,000 shares of Barings BDC stock in a transaction dated Thursday, March 9th. The shares were acquired at an average price of $8.05 per share, with a total value of $80,500.00. Following the completion of the transaction, the director now owns 20,037 shares of the company’s stock, valued at approximately $161,297.85. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.43% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently issued reports on BBDC shares. Oppenheimer downgraded Barings BDC from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $10.00 to $9.00 in a report on Friday, February 24th. Raymond James lowered their target price on Barings BDC from $11.50 to $11.00 and set an “outperform” rating for the company in a research note on Monday, November 21st. Finally, Wells Fargo & Company lowered their target price on Barings BDC from $10.00 to $9.75 and set an “overweight” rating for the company in a research note on Monday, February 27th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.94.
About Barings BDC
Barings BDC, Inc is a closed-end management investment company, which engages in the provision of customized financing primarily to lower middle market companies. Its investment objective is to seek returns by generating current income from our debt investments, and capital appreciation from our equity-related investments.
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